Word: chryslers
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...Chrysler has tantalized car buffs for more than a year with glimpses of a muscular two-seater called the Viper. The roadster won rave reviews at U.S. auto shows, but Chrysler coyly refused to say whether the Viper would ever become a production car. The fan dance ended last Friday when Chairman Lee Iacocca said the company will build the car, but only about 500 annually. Powered by a 400-h.p., ten-cylinder engine, the Viper will be built for speed and handling. Chrysler insiders claim that the car will be able to accelerate like a rocket sled, zooming from...
...automakers, owning a rental-car company is a great way to showcase products. Ford has already bought into Hertz, General Motors is allied with Avis, and Chrysler owns Thrifty. Now a foreign manufacturer is getting into the act. Last week Mitsubishi Motors became the first Japanese owner of a U.S. agency when it bought control of Value Rent-A-Car for an undisclosed sum. Mitsubishi currently supplies 10% of Value's 20,000-car fleet, a share that will rise to 85% by year's end. After the agency has used the cars, it will turn them over...
...grossly distorted version of the values mainstream Americans hold dear. The difference is that gang members want money and status faster, and are willing to kill to obtain them. Asked to identify his role models, one 14-year-old cited the cocaine-snorting protagonist of the movie Scarface and Chrysler chairman Lee Iacocca. "Lee Iacocca is smooth and he be dissing ((disrespecting, in street lingo)) everybody," the youth explained. In some cases, parents encourage their children's criminal careers. Said one: "My momma talk about how proud she is of me making doughski. She used...
...these two supposed antagonists sell each other some $7 billion worth of goods every month. U.S. exports are broadly based, not just animal feed, as some people seem to think. Europe is the biggest market for U.S.-made computer and data-processing equipment, and -- surprise, surprise -- General Motors and Chrysler together sold nearly 60,000 U.S.-built cars in Europe last year, and expect to sell about 80,000 this year...
...industry legendary for lack of management accountability, Chrysler has been making strong moves to tie executive compensation directly to the company's fortunes. Iacocca is pressing top execs to buy stock equivalent in value to their annual salaries. "I want them to feel exposed," he says. "I want them to put pressure on the people to deliver, to get earnings up, to reduce costs." Ironically, the chairman himself sold 95,339 of his 287,205 shares of Chrysler stock last year. That leaves him with more than $3 million in stock -- twice his annual salary...